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Objective

General objectives

A functioning economy requires a stable banking system. The recent financial crisis has highlighted the enormous fallout that an uncontrolled accumulation of risks in the banking sector can have for the entire economy. Banking supervisors are therefore entrusted with monitoring credit institutions' business activities and preserving investors' confidence by ensuring the efficiency and stability of the banking system.

Banking supervision in the European Union

Since 2014, the Single Supervisory Mechanism has been responsible for supervising banks in the euro area. The new banking supervision system consists of the European Central Bank and the national competent authorities of the participating countries.

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